Strait & Sound Wealth Management LLC Makes New Investment in Amgen Inc. $AMGN

Strait & Sound Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,292 shares of the medical research company’s stock, valued at approximately $1,916,000.

A number of other institutional investors have also recently modified their holdings of the business. Adell Harriman & Carpenter Inc. increased its stake in shares of Amgen by 7.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock valued at $7,204,000 after purchasing an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Amgen in the fourth quarter valued at approximately $22,441,000. Sigma Planning Corp boosted its holdings in shares of Amgen by 24.0% in the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock valued at $5,889,000 after acquiring an additional 3,488 shares in the last quarter. National Pension Service increased its stake in shares of Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock valued at $405,717,000 after acquiring an additional 55,489 shares during the period. Finally, Integrated Advisors Network LLC raised its holdings in Amgen by 50.5% during the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock worth $6,664,000 after purchasing an additional 6,356 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Barclays boosted their price objective on Amgen from $360.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Wells Fargo & Company upped their price objective on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Mizuho raised their target price on shares of Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $380.43.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
• Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
• Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
• Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock worth $2,540,926 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Amgen Price Performance

AMGN opened at $432.42 on Friday. The stock has a fifty day moving average price of $388.64 and a 200 day moving average price of $364.71. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $447.03. The stock has a market cap of $233.78 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.16 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the firm posted $6.02 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts forecast that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. Amgen’s payout ratio is presently 62.65%.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.